Mar 11, 2009

Trickle Up Economics


Ya remember a couple of years back that it looked like Dubai was going to be the center of the powerful and wealthy. Well, looks like the hard times are hitting this oasis in the desert.

The way I see it is that those "trickle down" people need to understand that it has to also trickle up. I don't know much about economics but I do know give and take has to happen on both ends. The past few years have shown me I can't rely on a fat cat to leave me some C.R.E.A.M. in the bowl.

So with Dubai hurting, ya know shit is bad!

"Mr Vail's employer is holding his passport and has told him to wait until work picks up again. Developers have got serious cash flow problems...In the meantime he sleeps on the streets or in the back of trucks.

""One day I have food, one day I don't," he says. "I have to borrow money from friends." Having left a steady job in India to come to Dubai, Mr Vail is struggling to support his wife and two children back in Chennai. "What is the point in being here when I have no food, no money and no job?" he asks. "This is a waste of time. If I go back to India at least I am at home with my family."

Source: BBC News (click here for the full story)

4 comments:

Kitty said...

Halliburton moved over there last year to skip-out on taxes...wonder how that's working out for them? Maybe Dubai going "Boom" is why Dick Cheney was on TV looking so crazy after the Inauguration? 90% of Dubai's population is made up of foreigners and guest workers and if they don't leave within 30 days of losing a job they can be arrested, insane.

Junior said...

But what about the man-made islands! And the almost tallest building in the world that looks like a sailboat! What do you mean these weren't fiscally responsible decisions?! What?!

Allan S. said...

I heard they even have a debtors prison in Dubai. Yup, it is all very insane.

Todd HellsKitchen said...

Yes, I've been hearing about Dubai's issues in the media a lot lately... It's tough all over!